That does sound serious, from your description it looks very much like a failed hard disk. I guess it had to happen to one of us one of these days (the good thing is that if a hard disk is going to fail it tends to be in first couple of days or years later, like most complex electro-mechanical devices).

I assume that you have contacted empeg to let them know ?

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Unit serial number 47 (was 330 in the queue)...